VICI vs. WELL: VICI Properties vs. Welltower Stock Comparison

Company Profile

VICI Properties (VICI) and Welltower (WELL) both fall under the Equity Real Estate Investment Trusts (REITs) industry group, but VICI is classified in Specialized REITs while WELL is classified in Health Care REITs.

Both VICI Properties (VICI) and Welltower (WELL) are REITs — read their payout ratios and P/E alongside FFO (funds from operations) rather than at face value.

Price Performance

Cumulative Growth

Trailing Returns

Calendar-Year Returns

Performance Metrics

Risk Profile

Drawdown History

Return Distribution

Risk Metrics

Risk-Adjusted Performance

Risk-Return Positioning

Risk-Adjusted Metrics

Profitability

Both VICI Properties (VICI) at 8.28% and Welltower (WELL) at 3.92% land near their industries’ usual ROE ranges, so capital efficiency looks broadly in line with peers on both sides.

Neither VICI Properties (VICI) in Equity Real Estate Investment Trusts (REITs) nor Welltower (WELL) in Equity Real Estate Investment Trusts (REITs) is well served by net margin: heavy depreciation makes net income a poor profitability proxy in their businesses, where FFO-based measures are the standard read.

Neither side reports a meaningful operating margin: for VICI Properties (VICI) in Equity Real Estate Investment Trusts (REITs) and Welltower (WELL) in Equity Real Estate Investment Trusts (REITs), funding costs are part of the core business, so net margin and ROE are the cleaner profitability reads.

Profitability Metrics

Growth

Welltower (WELL) at 35.82% clears its industry range for revenue growth, far stronger top-line momentum than VICI Properties (VICI) at 4.08%, which is closer to a typical peer reading.

EPS growth isn't a meaningful figure for either VICI Properties (VICI) in Equity Real Estate Investment Trusts (REITs) or Welltower (WELL) in Equity Real Estate Investment Trusts (REITs) under our convention.

Growth Metrics

Financial Strength

Welltower (WELL) at 1.66 keeps current ratio within its industry’s typical mid-range, while VICI Properties (VICI) at 20.26 sits above its industry’s typical mid-range — comfortable liquidity, though possibly with more idle current assets relative to peers.

Both VICI Properties (VICI) at 0.61 and Welltower (WELL) at 0.42 keep leverage in the lower quartile of their industries, with less balance-sheet debt relative to equity than most peers.

Financial Strength Metrics

Dividends

VICI Properties (VICI) at 7.18% offers top-quartile income, while Welltower (WELL) at 1.30% sits in the bottom quartile — a wide gap in cash returned to shareholders.

An earnings-based payout ratio fits neither VICI Properties (VICI) in Equity Real Estate Investment Trusts (REITs) nor Welltower (WELL) in Equity Real Estate Investment Trusts (REITs): their distributions are mandated and conventionally measured against FFO, so the accounting-earnings ratio overstates both.

Dividend Metrics

Valuation

P/E ratio is not a meaningful valuation yardstick for either VICI Properties (VICI) in Equity Real Estate Investment Trusts (REITs) or Welltower (WELL) in Equity Real Estate Investment Trusts (REITs): depreciation suppresses reported earnings in their businesses, and price-to-FFO is the conventional yardstick instead.

VICI Properties (VICI) at 6.57 is priced about in line with its industry on P/S ratio, while Welltower (WELL) at 13.03 sits in the pricier quartile — WELL costs more per dollar of sales.

VICI Properties (VICI) at 0.94 looks cheap against book in the lower P/B ratio quartile, while Welltower (WELL) at 3.69 carries a premium in the upper quartile — a clear price-to-book gap.

Valuation Metrics